Angang gets bourse warning following losses
By Wang Ying in Shanghai | China Daily | Updated: 2013-03-29 07:45
Angang Steel Co Ltd - the listed arm of Anshan Iron and Steel Group Corp - will carry an ST tag, a type of bourse warning, on the Shenzhen Stock Exchange starting Friday after posting losses for two years in a row.
Angang Steel, a Liaoning-based steel maker, reported a 4.16 billion yuan ($670 million) loss in 2012, compared with a 2.1 billion yuan loss in the previous year.
According to bourse regulations, the company will have to change its stock name to ST Angang starting on Friday as a warning to investors of its loss-making record.
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